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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

It’s Now Or Never For XRP As Technicals Indicate Pivotal Price Action

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
3 mins read
xrp bitcoin usd btc crypto

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XRP, the fourth-ranked cryptocurrency in the space, has been among the industry’s worst performers. Yet investors in the asset still hold out hope for a repeat of the massive pumps Ripple is known for.

Key indicators reveal that the asset has reached a pivotal moment where a decision must be made. It’s now or never for XRP, but how will the altcoin respond?

Is Ripple Finally Ready For Redemption?

Few cryptocurrencies are as polarizing as XRP. Crypto investors either love the asset, or love to hate it. It’s the butt of many jokes, the worst performing altcoin the last couple years running, and has been compared to sheep manure.

Ripple execs notoriously sell down rallies, which has helped keep the altcoin locked in a downtrend for nearly three full years. It even lost its third-rank by market cap to a stablecoin in recent weeks.

Related Reading | Three Signs That XRP Has Finally Found It’s Bear Market Bottom

But downtrend resistance has been broken through on both USD and BTC trading pairs, yet XRP has barely reacted. Looking more closely at the long-term price charts of the asset reveals that indicators are primed for a major move.

After a breakout of downtrend resistance, bullish chart formations, and indicators are backing up a potential explosion – how will Ripple react in the days ahead?

XRP Reaches Now Or Never Movement, According to Three Key Indicators

There’s no denying that XRP has come to a now or never moment. The conclusion of tight consolidation is due, technical analysis indicators are suggesting.

Coinciding with powerful signals from a variety of popular trading tools is a breakout from downtrend resistance. The downtrend resistance acts as the top trend line, to a massive, multi-year falling wedge pattern.

The falling wedge pattern is a cookie-cutter fractal of the previous cycle, only larger by comparison. And due to the pattern’s larger size, the resulting breakout could be that much more significant.

 xrp xrpbtc xrpusd crypto macd

Ripple MACD Weekly | Source: TradingView

Pointing to a potential breakout to the upside is the weekly MACD. The last time the MACD turned bullish on the histogram on weekly timeframes, all bets were off for bears.

Related Reading | The Price Trend of XRP Stunningly Reflects That of Sheep Manure Stock

XRP rallied over 3,000% in less than 60 days following the change in momentum.

xrp xrpbtc xrpusd crypto rsi

Ripple RSI Weekly | Source: TradingView

Further backing up the idea of a breakout to the upside, is a massive bullish divergence across the Relative Strength Index. This indicator also matches the same sort of pattern pre-breakout the last time around.

Yet another indicator, the Bollinger Bands shows just one line of defense separating XRP from another incredible surge: the mid-BB. The middle line of the Bollinger Bands is a simple moving average, and each band is a standard deviation of those bands.

xrp xrpbtc xrpusd crypto bollinger bands

Ripple Bollinger Bands Weekly | Source: TradingView

In the chart above, prior to XRP claiming the middle line, months of the bands “squeezing” can be seen ahead of the powerful explosion. The same thing is happening once again, and the asset is just below the middle-line on the Bitcoin trading pair.

If the asset can reclaim the line, and hold it, it’s the only remaining step before XRP potentially goes on a shocking rally.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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